Is Olympic Steel, Inc. overvalued or undervalued?

As of 14 November 2025, the valuation grade for Olympic Steel, Inc. has moved from fair to very expensive, indicating a significant shift in its market perception. The company appears overvalued based on its current financial metrics. Key ratios include a P/E ratio of 21, an EV to EBITDA of 8.22, and a Price to Book Value of 0.61, which suggest that the stock is trading at a premium compared to its earnings and asset values.
In comparison to its peers, Olympic Steel's P/E ratio of 26.63 is notably higher than that of Insteel Industries, Inc. at 22.80 and Park-Ohio Holdings Corp. at 9.58, both of which are considered attractive. Additionally, NL Industries, Inc. stands out with a very attractive P/E of 4.86, further emphasizing Olympic Steel's overvaluation. Although return data is not available, the absence of a return comparison with the S&P 500 does not detract from the conclusion that the stock is currently overvalued in the industrial manufacturing sector.